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Grid Metals Corp V.GRDM

Alternate Symbol(s):  MSMGF

Grid Metals Corp. is focused on both lithium and copper/nickel projects in the Bird River area, about 150 kilometers (km) northeast of Winnipeg, Manitoba. The Donner lithium project is a 75% owned property subject to a joint venture agreement. The MM copper/nickel project is a resource-stage project that is undergoing exploration and development work. All the Company’s southeastern Manitoba projects are located on the traditional lands of the Sagkeeng First Nation, with whom the Company maintains an exploration agreement. The Donner project is located about 145 km northeast of Winnipeg, Manitoba. Its Falcon West Lithium Property is located within the West Hawk Lake Greenstone Belt of southeastern Manitoba. The MM Project includes a copper-rich (Mayville) and a nickel-rich (Makwa) disseminated magmatic sulfide deposit along with three additional near-surface deposits (Page, Ore Fault, and New Manitoba). Its other projects include East Bull Lake palladium project, and Mayville PGE Zone.


TSXV:GRDM - Post by User

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  • Betteryear2X
Post by Betteryear2on Jul 18, 2023 3:20pm
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Post# 35546614

Grid Metals Announces Maiden Mineral Resource

Grid Metals Announces Maiden Mineral Resource

TORONTO, ON / ACCESSWIRE / July 18, 2023 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to announce a maiden National Instrument 43-101 compliant Mineral Resource Estimate ("MRE") on its 75% owned Donner Lake Lithium Project in Manitoba, Canada of 6.81 million tonnes ("MMt") (Inferred) grading 1.39% Li2O. In addition, the Company has signed a binding lease agreement (the "Agreement") with 1911 Gold Corporation ("1911 Gold") to use its nearby True North mill for the production of lithium spodumene concentrate. Today's announcement further Grid's objectives of enabling near term production and growing its lithium business in southeastern Manitoba with:

  • Maiden resource of 6.81 MMt (Inferred) at 1.39% Li2O
  • Lease of the True North mill - an existing processing facility will be reconfigured to enable lithium spodumene production
  • True North mill is a permitted gold mill utilizing a flotation circuit with nominal annual capacity of 475,000 tonnes. Mill is leased for up to five years plus a two-year cancellation period.
  • True North tailings facility is also permitted (with an additional permit required to reconfigure mill and tailings to process lithium).
  • Contract signed with leading lithium processing engineering firm Primero Group to complete scoping level mill reconfiguration study in the next 90 days.
  • Grid also has ongoing discussions with Tantalum Mining Company of Canada Limited for toll milling available resources at the currently operating Tanco Mine - 35 km south of Donner Lake - a second potentially complimentary lithium processing option
  • Donner Lake resource remains open for expansion, and ongoing property exploration is focused on generating new exploration targets.
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